Gujarat Narmada Fertilser reports net profit of Rs 372.88 cr

Bharuch, Sep 26 (UNI) The Gujarat Narmada Valley Fertiliser Company (GNFC) has earmarked an investment of Rs 4,000 crore for future expansion plans, Company chairperson and managing director Sudha Anchlia said.

Addressing the 32nd AGM of the company here yesterday, she said the long term expansion plans being considered included Ammonia Plant Feed stock conversion, Acitic Acid, MDI and Formic Acid production capacity expansion Giving details of the projects on hand with the company, she said that construction of a 150 MTD Concentrated Nitric Acid plant, 300 MTD Weak Nitric Acid plant, a 50,000 MTPA TDI project, a 50,000 MTPA Ethyl Acetate plant, a power and steam co-generation unit with a capacity of 33 MW of electricity and high pressure, 61 MT tonnes per hour steam plant, 12 MW capacity Wind turbo generators, a molecular sleve system in the Ammonia plant, revamp of the Ammonia loop was in progress and expected to be completed with a total investment of Rs 2,650 crores.

The company registered net sales worth Rs 3,433.91 crores, up by 25 per cent over the previous year. Profit before tax, at Rs 576.21 crores shows 18 per cent rise over the last year, while the Net Profit at Rs 372.88 crores is 14 per cent higher over the Net Profit of 2006-07.

She said all the units of the company have created new records on the plant operations front, on daily, monthly and yearly as well as on continuous basis. During the year, all the major plants of the company, namely Ammonia, Urea, Methanol, Formic Acid, Acetic Acid, Weak Nitric Acid, Concentrated Nitric Acid, Ammonium Nitrophospate, Aniline, TDI and Nitrobenzene have worked at above 100 per cent of their installed capacity.

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